Suspect that is still far too high |
About 15% shaved off the Le Chameau valuation in the latest month end NAV |
Being cynical, MVI have a continuation vote next year. Keeps a few fees flowing if its voted down! |
MVI are the sponsors here. A lock up gives confidence for other investors to come in. In any event three years is short in PE terms where the normal realisation term would typically be 5 - 7 years |
Another positive sign with manager buys. Still stock on offer! |
The lock-up is only on part of their holding, but I'm surprised they have agreed to it. Perhaps they expect to be long-term holders. |
Excuse my ignorance...but what will MVI get in return for entering into a 3 year lock-up agreement? I assume there has to be something in it for them or else why would they do it? |
MVI RNS on said acquisition...
As part of the transaction, Marwyn Investment Management LLP ("MIM"), the manager of the Marwyn Funds, has reinforced its long-term commitment to InvestAcc and its strategy by entering into a three-year lock-up agreement. Under the agreement, subject to limited exceptions, MIM has committed to retain a minimum holding of 12.4 million InvestAcc ordinary shares, representing 25% of InvestAcc's current share capital, along with the only Sponsor Share. This reflects MIM's continued confidence in InvestAcc's vision and future growth. |
Nice acquisition for INAC |
I hear that INAC is trading well. I would guess there are more acquisitions there plus ADVT.
If only they would sell Le Chameau |
Yes, saw CIC had a bit of luck finally. RW may have stood down to non-exec Chairman; but his dead hand all over Marvyn. However recent MVI investments have been rather good; just hope they do right by shareholders when they cash in ZEG. |
SKY,
A bit harsh to lay the blame of MVI with RW as he's only non-exec Chairman, but he is the kiss of death.
CIC made a massive profit from a sale of land announced today.......after writing the value down to nil last year...lol... |
Sadly managed by Robert Ware. Would be great for shareholders if he were no longer there!
Take a look at the REIT he also manages - CIC - a total disaster. |
The reversal on cancelling the dividend seems like they are (finally) listening. With several large shareholders (no longer including Invesco) there may be more pressure to deliver more than a stream of fee income. |
There's a complete distrust in the managers to do the right thing for shareholders. Even now you might say the current share price is looking a gift horse....
Perhaps one day! |
NAV 218.3
ADVT+ZEG 105.2
But nobody is interested in buying. |
At what point do MVI unload a few! |
ZEG moving ahead again - now at 720p. |
By my rough maths ADVT + ZEG (imo the only 2 holdings that can genuinely be valued at price) are worth circa £1.03. Just 5p under last buy price. I wonder if we will get to the stage where these 2 equal or surpass Share value, essentially valuing all other holdings at zero. Given the lack of liquidity it would not come as a surprise. |
ZEG likely to be sold soon; so should produce a reasonable tender offer for MVI bearing in mind already worth c51p/share. Makes MVI an interesting short-term punt at 105.5p. |
with ZEG up close to 10% today now, and ADVT at a similar price to before they announced their stellar trading update I can't see this hanging around at such a huge discount for long (even if you do value Le Chameau at zero!) Topped up with another 4000 at 1.0545 |
ZEG up another 8% |
NAV of 211.5p this week |
125 and I would actually be in the blue zone! |
I would happily agree with all of that. I hope your mooted 125p turns out to be a bit mean, but it would be a good start for sure! |
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